ZURICH: VariaUS Properties AG, a real estate company which invests in U.S. multifamily housing, on Tuesday announced plans for an initial public offering on the Swiss SIX exchange.

"Varia plans to use the net proceeds to fund additional real estate acquisitions in the targeted markets and regions in the U.S., to reduce its leverage and for general business purposes," Zug, Switzerland-based Varia said in a statement.

Varia, which has appointed Vontobel as sole bookrunner for the planned IPO, said it expects to list in the coming months, subject to market conditions.